Questions & Answers:

Below you will find the questions and answers which we have received and answered so far. We will continuously update with Q&A as they come in.

 

1. Question: In the previous statement, you mentioned that issuing new shares would not be necessary until reaching break-even. Why has this stance changed?

Answer: Initially, we believed that the company could manage without additional capital at that time. Activities to restructure the Company has gone according to plan. However, consumption in the Danish market has been under pressure affecting among others OmniCars turnover creating pressure on capital. Consequently, we believe that the best course of action for the company and its shareholders is to raise capital to sustain the operation and the future development.

 

 

2. Question: What is the rationale behind increasing the maximum number of shares in the company?

Answer: Assuming that the announced right issue will be fully subscribed, it would leave the company with limited options for raising the number of shares in the future. To avoid the need for an Extraordinary General Meeting (EGM) under such circumstances, we believe it is prudent to seek approval from shareholders at the Annual Gewneral Meeting (AGM) to authorize the Board of Directors (BOD) to increase the number of shares if necessary.

 

 

3. Question: Meko is underwriting a significant portion of the share issue. How did you determine that this is in the company’s best interest?

Answer: Our primary concern is to secure the capital required through the right issue, without having preferences regarding its source. Having Meko as an underwriter is viewed as a valuable advantage and sends a strong signal to existing shareholders. It is important to note that no discounts or other benefits have been granted to the underwriters.

The guarantee agreement which MEKO has signed for the benefit of OmniCar contains no guarantee remuneration whatsoever and MEKO will only be obligated to pay for and receive shares if other shareholders don’t subscribe for their pro rata of the rights issue.

 

 

4. Question: What is the rationale behind the proposed warrant program for the Board of Directors and Management?

Answer: We consider the warrant program an effective means to motivate and reward the Board of Directors (BOD) and management for their efforts in generating shareholder value through an increasing share price. This creates a win-win situation for both the BOD, management, and shareholders. It’s important to highlight that the BOD works for the company without receiving any compensation or remuneration. The decision to introduce the warrant program serves to protect the company’s capital while further motivating all stakeholders to succeed in their respective roles.